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July 11, 2017

ATF Q&A: Firearms Transactions

A licensee special-orders a firearm for a customer. The firearm arrives at the store on Monday afternoon, and the customer picks it up on Monday night. Can the licensee wait until the following business day to enter the firearm in his/her acquisition and disposition book?

Generally, licensees are required to enter the acquisition of a firearm by the close of the next business day after the acquisition and shall record sales or other dispositions within seven days. However, if commercial records containing the required information are available for inspection and are separate from other commercial documents, dealers have seven days from the time of receipt to record the receipt in the bound book. If a disposition is made before the acquisition has been entered in the bound book, the acquisition entry must be made at the same time as the disposition entry. We recommend that the A&D record be entered at the same time as the Form 4473 is being completed or as soon as possible afterward.